Citi Private Banking serves approximately 13,000 Ultra High Net Worth (UHNW) and High New Worth (HNW) clients and Family Offices through its global franchise, with presence in 50 cities across 18 countries. It delivers holistic advice and product offerings from core banking and lending to discretionary and advisory asset management, capital markets and corporate finance and operates through a combination offshore / onshore model with high-touch service provided by both bankers and product specialists.
The Citi Private Banking (CPB) NAM Business Execution Head (CPB NAM BE Head) reports into the CPB Business Execution Global Head (CPB BE Global Head) and matrix report into the CPB NAM Head. The incumbent is a member of both the CPB Global Business Execution Leadership Team and the CPB NAM Leadership Team.
The CPB BE NAM supports the Head of CPB NAM in leading all strategic and operational aspects of running and growing this strategic client segment including financial and drivers' performance, distribution strategies, client portfolio management, business development functions client acquisition, performance management, product service optimization, on-boarding, digital initiatives, client experience and strategic growth initiatives. The CPB BE Head will assist in managing the day-to-day aspects of the business, allocating resources, refining the strategy and value proposition, designing the optimal operating model, and implementing a framework and governance model that drives business results successfully and consistently across all regions.
The incumbent also will partner with other region/product heads and key control functions to ensure responsible business growth, supporting the safety and soundness of the bank while also serving as a credible challenger as needed as it relates to transactions and other client activities. This includes driving first-line of defense regulatory compliance and audit readiness.
The team under the CPB BE NAM head will also support the CPB BE LATAM Head.
Responsibilities:
Business Strategy
Drive the strategic priorities and business transformation agenda for CPB NAM covering multiple dimensions including client strategy, product priorities, Citi and Wealth partnerships, and talent strategy.
Ensure stakeholder buy-in for strategic initiatives and translate initiatives into execution plans.
Convenes resources from across the CPB and partner units as needed to deliver initiatives prioritized by the Business.
Manage the client related capital allocation programs aiming to meet the firm's return hurdles.
Business Planning and Performance Management
Drives the tracking and measuring of all initiatives, with leading indicators identified and milestones clearly outlined across each effort.
Drives all Investments business development initiatives in support of both the CPB NAM Head and the CPB NAM Investments Head. This includes supporting the business heads with their investment sales, performance management and product-related initiatives.
Partner with Finance and the CPB Global BE Team on business planning activities, including headcount management, new expense investment plans and governance of major approved investment spend.
Establish and conduct management processes - product management meetings, financial reviews, Operations, Technology and Sales meetings as needed.
Executes partnership agreements with other divisions both within Global Wealth Management and across Citi regarding internal allocations, revenue sharing agreements, target market, responsibility designations and collaborative initiatives.
Manages the established targets/scorecards processes, manages performance versus targets, and supports the CPB NAM Head to develop action programs based on performance insights gathered.
Advise the CPB Head and manage resource allocation, including expenses and headcounts.
Digital and Technology initiatives:
Coordinate and provide input to the Global BE CPB Head, to projects that aim to gain efficiency, improve client and employee experience, and expand to new markets. Supports the definition, prioritization, and implementation of these initiatives.
Client Management and Client Service
Handle client discussions as needed to manage client experience and complex client situations that may warrant intervention from CPB senior management.
Work closely with Operations to support their initiatives to deliver an excellent client service model, including on-boarding, KYC, client inquiries and middle office support, to promote retention, satisfaction, and increased wallet share.
Assess client and field feedback to deliver a best-in-class experience.
Collaboration:
Assist the Head of NAM CPB with delivering on all business objectives working in partnership with the GMMs , Product Heads, and support functions.
Share best practices and guidelines with all partners to promote a culture of transparency, integrity and informed risk taking.
Drive the CPB talent and diversity agenda and related initiatives.
Participate in conduct management reviews and employee calibration processes, as necessary.
Delegate Responsibilities:
Be the delegate to the Head of NAM CPB as appropriate.
Qualifications:
Undergraduate degree required. MBA preferred.
15 years of relevant Operating Management (P/L) as well as strategic and operational work experience
Detailed knowledge of private banking and wealth management
Proven experience in performing, managing, or supporting Investment Sales organizations in Wealth Management
Demonstrated strong Business Maturity in past roles.
Excellent Process Management and Reengineering skills
Knowledge of the latest trends in technology, reengineering, and outsourcing
Excellent communicator; Communications internal and external
Knowledge about the North America Wealth management Business
Understanding of the competitive landscape for CPB
Understanding of large-scale processing organizations
Strong understanding of risk management within Citibank, or similar size firms
Strong influence management and relationship skills
Team Player: Ability to develop teams to get work done.
Ability to work on virtual projects.
Strong work ethic, motivation, and commitment to the role
Meaningful understanding of Data, Analytics, and Technology
Meaningful understanding of Information Security & Cyber Security policies, procedures, and risk management techniques, and have a proven track record of execution in these areas.
Travel Required
Bachelor's degree in finance or related field required with 15+ years of experience, MBA preferred. FINRA S7 and S24 preferred. ------------------------------------------------------
Job Family Group: Business Strategy, Management & Administration ------------------------------------------------------
Job Family: Business Administration ------------------------------------------------------
Time Type: ------------------------------------------------------
Primary Location: New York New York United States ------------------------------------------------------
Primary Location Full Time Salary Range: $250,000.00 - $500,000.00
In addition to salary, Citi's offerings may also include, for eligible employees, discretionary and formulaic incentive and retention awards. Citi offers competitive employee benefits, including: medical, dental & vision coverage; 401(k); life, accident, and disability insurance; and wellness programs. Citi also offers paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays. For additional information regarding Citi employee benefits, please visit citibenefits.com. Available offerings may vary by jurisdiction, job level, and date of hire. ------------------------------------------------------
Anticipated Posting Close Date: Apr 13, 2024 ------------------------------------------------------
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Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.
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